What's the Difference Between Cost, Price and Value?

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In the last #OfferCreation video, we talked about finding the Right Elements for your offer. Now that we have all these elements, what's the next step?

Price vs Value vs Cost

One BIG MISTAKE that a lot of people make is
when they come up with additional elements for their offer,
they DO NOT ADD the right Value for each of these elements.

We need to SHOW THE VALUE your customers are getting when they purchase your offer.

What's the difference between cost, price and value?

Cost - what we need to create/make it and deliver your product. These are our expenses.
Price - the amount of money the customer will spend to buy your product.
Value - the amount of money you can attach to the elements your customer will receive.

IMPORTANT: We need to attach the value of each element.

TIP: The Total Value should be 5-10x higher than the Price of your offer, because this converts more!

This works for pretty much any industry, and it doesn't matter if you're service-based or product-based or B2B. This will work for your business.

If you need help with this, get in touch with me or drop your q's in the comments below. See you on the next video!

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  1. Daniel Stanszus
  2. Get business lit
  3. business strategies 2020
  4. marketing strategies 2020
  5. price value and cost difference
  6. difference between cost price and value
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